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About Me

Former Member, New York State Committee of the Independence Party (73rd AD - Eastside Manhattan) and Former Member, New York City Independence Party Organizations - Manhattan Executive Committee and County Committee, representing the 73rd AD.

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Tuesday, December 6, 2016

Tracking Trump’s Enterprise World

Trump Enterprise has business interests in more than 20 Countries.

Trump has earned millions of dollars putting his name on hotels and condominium towers that were built or are owned by international partners, some in Countries that are political flashpoints. Short of selling the company, it will be difficult to fully remove himself, experts say. If he or his children still own the company, Trump could be accused of violating the emoluments clause of the Constitution, which bans gifts or payments to U.S. officials from Foreign Governments.

Trump could run afoul of this provision through the process of obtaining permits or through dealings with business partners who often have ties to Foreign Governments.

Trump Tower, Buenos Aires

Project under development to build a tower, pending Government approvals. Partners Felipe Yaryura and Moses Yellati of the YY Development Group are close with the Trumps, and Yaryura attended the Election night party in New York.

Trump International Hotel & Tower, Baku

Licensed his name for a hotel-condo tower under development with Garant Holding. Its Chairman, Anar Mammadov, is the son of the Country's Transport Minister who has been suspected by U.S. diplomats of laundering money for Iran. Construction of the hotel is finished, but it is not yet open.

Brazil Trump Towers, Rio de Janeiro

Licensing deal for five office towers in Brazil currently under development by Bulgarian partner MRP Group. Brazil is currently investigating investment irregularities in the project.

Trump Hotel, Rio de Janeiro

Licensing deal on a beachfront hotel with Brazilian partner LSH Barra. The property officially opened prior to the Olympics, but some portions of it are still under construction.

Bermuda Company

Trump lists a company on his FEC filing possibly related to business in Bermuda: DJ Aerospace (Bermuda) Ltd.

Trump International Hotel & Tower, Vancouver, BC

Licensing and management deal for a hotel-condo tower under development in Vancouver with the Holborn Group owned by Joo Kim Tiah, the son of one of Malaysia's wealthiest real estate investors.

Trump Tower, Toronto, Canada

Licensing and management deal with Talon International for a tower, which was placed into receivership by a bankruptcy Judge. The building has been subject to investor lawsuits. Trump's partners on the project were firms associated with Russian-born billionaire Alex Shnaider and others.

Trump Organization Executives have traveled to Cuba for years. Asked on CNN in March if he’d be interested in opening a hotel there, Trump said: “I would, I would, at the right time, when we’re allowed to do it. Right now, we’re not.” In July he told a Miami TV station that “Cuba would be a good opportunity [but] I think the timing is not right.” At a Dec. 1 event, Miguel Fluxa, CEO of Spanish hotelier Grupo Iberostar, said the Trump Organization had been looking to buy hotels in the Country within the last six months. “In the last 12 months, many major competitors have sought opportunities in Cuba,” Amanda Miller, Vice-President of Marketing at the Trump Organization, said in an e-mailed statement in response to Fluxa's comments. “While it is important for us to understand the dynamics of the markets that our competitors are exploring, we do not intend to expand into Cuba nor have we ever done any business there.”

Egypt, Companies

Trump lists two companies on his FEC filing possibly related to business in Egypt: Trump Marks Egypt and Trump Marks Egypt LLC.

Trump Tower and Resort project, Tbilisi and Batumi, Georgia

Trump lists two companies on his FEC filing possibly related to business in the Republic of Georgia: Trump Marks Batumi and Trump Marks Batumi Member Corp. In 2011, he signed a licensing deal to use his name on two projects, developed by the Silk Road Group, in the former Soviet State: a tower in the Capital of Tbilisi and a Casino Resort in Batumi, on the Black Sea. Then-President Mikheil Saakashvili sought out Trump to develop the project and attended the signing ceremony at Trump Tower in New York.

Trump Towers and Companies, Mumbai, Pune, and Kolkata, India

Licensed his name for two projects in development in India, one in Mumbai with Lodha Group and another with Panchshil Realty for two towers in Pune. Trump recently met with his project partners, who also have ties to the Indian Government, raising questions of a potential conflict. On his FEC filing, he lists two Companies possibly related to a project in Kolkata: DT Tower Kolkata LLC and DT Tower Kolkata Managing Member Corp.

Trump International Hotel & Tower, Lido and Bali, Indonesia

Trump Hotels has plans to open two properties in Indonesia with MNC Group, a Jakarta-based Media Company. He received up to $5 million in royalties for each property last year, according to his personal financial disclosure.

Trump International Golf Links, Doonbeg, Ireland

Trump bought Doonbeg Golf Club in Ireland in 2014 and promised to invest €45 million ($47.6 million). The annual report for that year, the most recent available, shows the course losing money. Trump has scaled back plans to build a sea wall after officials raised concerns over potential damage to dunes and a snail habitat.

Israel Companies

Trump lists two companies on his FEC filing possibly related to business in Israel: Trump Drinks Israel LLC, Trump Drinks Israel Member Corp.

Trump Ocean Club International Hotel & Tower, Panama City, Panama

Licensing deal on hotel-condo tower currently in operation developed by local partner Newland International Properties Corp.

Philippines Trump Tower, Makati, Philippines

Licensing deal on a luxury residential tower under development with Century Properties Group, whose shares surged 20% the day after Trump was Elected. The Country’s new special envoy to the U.S., Jose E.B. Antonio, is the CEO of Century Properties.

St. Martin, Companies

Trump lists two companies on his FEC filing registered in St. Martin, French West Indies: Excel Venture I LLC and Excel Venture I Corp. The companies are tied to residential rental properties, according to the disclosure.

Next Possible development, Taoyuan, Taiwan

A Trump representative recently visited Taiwan to explore building a luxury hotel on a Government-backed development near the Taipei airport, according to the Mayor of Taoyuan, Cheng Wen-tsan. The Trump Organization said it is not planning any developments in Taiwan but did not dispute that an employee assigned to promote hotel sales in Asia visited Taipei on a work-related trip in October, according to the New York Times. Trump recently spoke by phone with Taiwan’s’ President, Tsai Ing-wen, breaking decades of diplomatic protocol and upsetting Chinese officials. China does not recognize Taiwan as a Sovereign State, and the U.S. has not had diplomatic ties to the island since the 1970s.

Trump Towers, Istanbul, Turkey

Licensing deal to use his name on two currently operating luxury towers, one commercial and one residential, for which he received as much as $5 million last year, according to his latest financial disclosure. Shares in Dogan Sirketler Grubu Holding, his partner on the project, surged almost 11% after Trump’s victory. Trump said in an interview with Breitbart News that "I have a little conflict of interest, because I have a major, major building in Istanbul.”

Trump Home, Istanbul

Licensing deal with Dorya International to manufacture Trump-branded furniture. Dorya President and CEO F. Doruk Yorgancioglu was quoted saying that the line sells well in places like Dubai, Istanbul, China, and Russia.

Six luxury condominium towers in Seoul, Busan, and Daegu erected in 2007 by Daewoo Corp., which paid Trump for use of his name. Daewoo had previously built Trump World Tower in Manhattan.

Trump Golf courses, Dubai, United Arab Emirates

The Trump Organization has a licensing and management deal in Dubai with Damac Properties Dubai Co. for a golf course and luxury villas currently under construction. Another Trump-branded golf course, designed by Tiger Woods, is under development with Damac nearby.

Trump Turnberry, Turnberry, Scotland, United Kingdom

Trump bought Turnberry, one of Scotland's most iconic golf courses, in 2014 for about £41 million ($51 million). It lost £8.4 million in 2015.

Trump International Golf Links Scotland, Aberdeen, Scotland

He built from scratch a course north of Aberdeen against opposition from environmentalists. It, too, has failed to make a profit, losing £1.1 million in 2015. Also in that year, Trump lost a years-long fight with Scottish lawmakers to halt the construction of an offshore wind project being built near the golf course. Trump told the New York Times that he "might have brought it up" in a conversation with Nigel Farage, the former Leader of the right-wing U.K. Independence Party, whom Trump has recommended for an Ambassador position to the U.S.
See also:

Trump Tower, New York, United States

The state-controlled Chinese bank, Industrial & Commercial Bank of China Ltd., leases space in Trump Tower and is due to renegotiate its lease in 2019. This presents a possible conflict under the Constitution's emoluments clause, which bars gifts and money from Foreign Governments.

Trump Tower, Punta del Este, Uruguay

Licensing deal to develop a residential tower with Aetos SA, a company affiliated with YY Development, which is also Trump's partner in Argentina.

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